Fidelis Insurance (NYSE:PLGO) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Fidelis Insurance (NYSE:PLGO) from a buy rating to a hold rating in a research report released on Saturday.

Several other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Weiss Ratings restated a “buy (b)” rating on shares of Fidelis Insurance in a research note on Friday, August 7th. UBS Group upped their price target on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Zacks Research cut Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.00.

Fidelis Insurance Stock Performance

Shares of Fidelis Insurance stock opened at $23.54 on Friday. The business has a 50-day moving average price of $24.55. The stock has a market capitalization of $2.03 billion, a PE ratio of 5.77 and a beta of 0.28. Fidelis Insurance has a 52-week low of $16.28 and a 52-week high of $26.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.65 and a quick ratio of 0.65.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. The firm had revenue of $650.00 million for the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. As a group, equities research analysts forecast that Fidelis Insurance will post 3.8 EPS for the current fiscal year.

Fidelis Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Monday, September 14th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. Fidelis Insurance’s dividend payout ratio is 14.71%.

Fidelis Insurance Company Profile

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.